Understanding Property and Casualty Insurance Jobs

10-11-2008

Insurance falls into two main categories, health/life insurance and property/casualty insurance. Property insurance is to cover damages or loss of property such as homes, vehicles, jewelry, computers and other hardware goods. adidas js wings Casualty insurance is coverage for legal expenses resulting from bodily injury or property damage to someone else. From here, there are two types of property and casualty insurance: personal and commercial.

Commercial insurance is bought by businesses, hospitals, governments and schools to protect them from losses that are caused by crime, fire, or other acts that damage property that are covered by the insurance policy.

Personal insurance is to protect people and their property, usually homes and vehicles from loss and damage.

The job market for property and casualty is an ever-evolving market. new balance mens With the advent of technology and the internet, property and casualty insurance agents can process more applications in less time. ugg men Also, with the advent of all this new technology, the need for property and casualty insurance on both personal and commercial levels is ever increasing.

Property insurance is coverage for a building and its contents from losses incurred due to fire or theft. adidas zx 500 In many cases there are other perils that can be added onto a property insurance policy, such as flood damage, sleet/ice/snow damage, earthquake damage and other specific event perils that can cause damage or loss. nike air flight huarache In some areas, specific peril insurance is added to protect property from common area specific perils.

Casualty insurance is coverage for bodily injury or property damage of property that belongs to someone else. For example, if a client comes to your business and injures themselves, you can be held liable. Casualty insurance covers their medical expenses and legal expenses that may be incurred if you are sued for damages. cheap mu Legend zen ugg boots for cheap Another example is in the event of a collision where the occupant or occupants of the other vehicle are injured, your casualty insurance covers their medical expenses and any legal counsel you may require if you are held liable and sued for damages.

The job categories in the property and casualty insurance industry are those of agents, claims adjustors, underwriters, appraisers and investigators. Agents are the go-to people that help individuals and businesses choose insurance that is right for their needs. nike air max 90 femme Claims adjustors, examiners and investigators work directly for the insurance company with which a claim has been submitted. mu legend zen for sale They determine if coverage is provided in the event of damage or loss. Adjustors also plan the work needed to recoup the damages that were done to property or person. new balance 420 Underwriters establish premiums and write the policies which will cover the person or business and asses the risk of loss of each client. nike chaussure Claims investigators are called in when there is suspicion of criminal activity and insurance fraud.

The property and casualty insurance industry flows with the waves of trends and cycles of the world around it. nike air max tn soldes Major catastrophic events, such as Hurricanes and the terrorist attack on September 11, cause a shock wave to be sent into the property and loss insurance industry. Property insurance rates in ‘hurricane alley’ are significantly higher than property insurance rates in areas that do not have hurricane activity.

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